the market opportunity of underserved regions and sectors cdvca march 2006 2 060328 advantage underserved5 today s objectives to share a perspective on opportunities challenges investing in geographies learn from each other experiences what works 3 panel current former michael burgmaier principal heidi krauel associate director business services david griest managing 4 agenda deal examples three fund perspectives pacific community ventures sjf discussion q&a 5 smaller funds serving less developed regional markets are challenged find good deals 6 our thesis capital gap overlooked under served 7 since crash average size has grown much larger 2001 2002 2003 2004 2005 123m 23m 75m 89m 139m 0 50 100 150m raised number 309 173 144 194 182 source national venture association 8 as result